Menswear Market 2023 Presentation

Inflation Has Suppressed Apparel Sales

• The US Bureau of Economic Analysis reported a 6.7% YOY increase in personal consumption in men’s and boy’s clothing during Q1 2023.
• During Q2 2023, personal consumption of men’s and boy’s clothing only increased 2.6% YOY similar to the change in women’s and girl’s clothing spending, declining from a 4.8% YOY increase during Q1 to a 2.4% YOY increase during Q2.
• The persistence of inflation and high prices are primarily the causes as well as increasing credit card debt and the trillions consumers had in discretionary dollars during 2021 and 2022, which have decreased to approximately $500 billion.

Download the PowerPoint Presentation and  Word Document